Are You Ready to Sell Your Valley Stream, New York Restaurant?

After years of hard work, you have decided to sell your Valley Stream, New York restaurant

Considering opening a new eatery, moving, or even retiring. No matter the reason, selling a Valley Stream, New York restaurant can be way more difficult than you might realize. This is because it takes careful preparation and a solid game plan to successfully walk away with enough money for all the time you’ve put into it.

Important Steps to Consider when Selling Your Restaurant

You may either decide to contract with a eatery broker to guide you in selling your Valley Stream, New York restaurant or do the task yourself. Whether considering selling your Valley Stream, New York restaurant on your own for the first time or with a restauarant broker, you should follow these steps.

#1 Gather any Business Documentation

This is a necessary preparatory step to take when you start the process of marketing your Valley Stream, New York restaurant.

The necessary documents may vary from state to state--even in New York, but the following is a list of some general documents you may find helpful to have on you:

• Gather your assets
• Lease contract
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• Architectural drawings
• Financial statements and other important financial documents

Corbett Restaurant Group has the experience to help you in the sale of your Valley Stream, New York restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show the majority of these documents to a potrntial buyer day one. But, you may want to have them on hand because you will certainly require them during the sales process.

In addition, putting together these documents allows you to view your Valley Stream, New York restaurant through the lens of a buyer. This provides you a clear image of the Valley Stream, New York restaurant you're offering for sale. In addition, it helps you identify if there are any concerns you will have to take care of.

#2 Put Your Financials in Order

Your financial documents are an important detail of selling your Valley Stream, New York restaurant. That’s why you should make it a priority to have these documents complete and organized.

Showing your financial records to potential buyers could assist to clear any doubt they might have concerning your Valley Stream, New York restaurant.

These financial documents can include:

• Inventory of equipment and assets
• Profit and loss statements
• Tax records
• Cash transactions
• Bank statements

In addition, ensure you have soft copies of all of these records. This will make it easier for you to transmit the information to possible buyers.

Likewise, as a seller, you have to disclose information such as debts, owed taxes, prospective repairs, etc. Failing to inform a buyer regarding these things can create legal problems for you if a buyer later on discovers these liabilities after signing the deal.

#3 Gather the Details of Your Commercial Lease

In the process of preparing to sell your Valley Stream, New York restaurant, you must find out the terms of your commercial lease. It would be devestating if, after attracting a buyer, your lease hinders you from closing the deal.

For this reason, it could be advisable to have a discussion with your landlord concerning your plan to sell your Valley Stream, New York restaurant and to possibly extend your lease.

#4 Have Your Restauarant Appraised

Buyers and investors will often request an in-depth evaluation of your financial records, whether favorable or not, this helps them estimate the value of your Valley Stream, New York restaurant.

This will be in your best interest to ensure that you augment sales and make a reduction in your expenses to build up your cash flow before trying to sell your Valley Stream, New York restaurant.

The estimated time it may take to sell a Valley Stream, New York restaurant is six months. Within those six months, there are several things you can do to strengthen your profit and slash various costs, and therefore strengthen the worth of your Valley Stream, New York restaurant.

Also, when it comes to your assets, you need to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This may help you in deriving the probable worth of your Valley Stream, New York restaurant. If you understand the overall worth this could help you determine a selling price.

#5 Make Your Restaurant Look Awesome

The first impression of your Valley Stream, New York restaurant will go a great distance in helping you bring potential buyers. Alternatively, if the general aesthetic of your Valley Stream, New York restaurant does not appeal to buyers, they could take a pass right off the bat.

To avoid this from happening, all things in and out of your Valley Stream, New York restaurant must be cleaned and maintained. Landscaping and a clean parking area can help create curb appeal for prospective buyers.

Spot-free windows, polished door handles and a clean floor are other simple things that could help create a memorable initial impression.

Furthermore, you should make sure that all your equipment is in top condition. If your equipment is not working, it might convey the message that you are hurried to pass a bad deal to the buyer.

Faulty equipment can raise doubt about your financial status and output capabilities. It may even dampen the morale of your staff, and in response, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of prospective buyers regarding purchasing your Valley Stream, New York restaurant.

#7 Search for Valley Stream Buyers

Searching for prospective buyers can be time-consuming and often requires specific skills and a certain level of experience. This may require that you hire a professional Valley Stream, New York restaurant broker to help. A professional Valley Stream, New York restaurant broker will have recommendations for saving time & money for drawing in more prospective buyers. However, if you decide to take on this project alone, you will need to carry out appropriate advertising. You can show your Valley Stream, New York restaurant on listing websites and tell family and friends about your plans to sell your Valley Stream, New York restaurant.

As you will probably run across competition when trying to sell your Valley Stream, New York restaurant, you need your restaurant to stand out.

#8 Be Ready

If you decide to sell your Valley Stream, New York restaurant yourself, or through a Valley Stream, New York restaurant broker, you should always be ready. Be prepared to show your Valley Stream, New York restaurant to prospective buyers at all times.

You'll never know when a buyer will walk into your Valley Stream, New York restaurant. Some buyers might even visit as customers just to carry out some research before reaching out to you.

#9 Sell Your Valley Stream, New York Restaurant

This is the remaining action to take following a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the deal. The documentation will likely start with the Asset Purchase Agreement.

You may need your attorney’s expertise in creating this document. Working with an attorney helps to make sure the Asset Purchase Agreement covers every aspect of the transaction.

This document includes details including the selling price of your Valley Stream, New York restaurant, assets and equipment and inventory value.

Choosing a Valley Stream, New York Restaurant Broker

Although attempting to sell your Valley Stream, New York restaurant on your own can be an exciting endeavor, it could also be quite risky, especially for first time sellers.

The fact remains, in order for you to get the most out of the business transaction, you need a higher level of expertise in order to stand above and against the competition while attempting to find buyers.

Expertise is also vital during negotiations with potential buyers. This is when an experienced Valley Stream, New York restaurant broker is recommended. A Valley Stream, New York restaurant broker has the resources, expertise and strategy required to easily take on the task of marketing for sale your Valley Stream, New York restaurant. Additionally, a restaurant broker can help you sell quicker and get you a higher sale value.

With the help of a Valley Stream, New York restaurant broker, you can focus your undivided attention on operating your Valley Stream, New York restaurant and rest easy with the knowledge that a professional is in charge of selling your Valley Stream, New York restaurant.

Contact a Valley Stream, New York Restaurant Broker

Choosing to sell your Valley Stream, New York restaurant through a Valley Stream, New York restaurant broker has several advantages. First, however, you need to select the best Valley Stream, New York restaurant broker to help you in selling your Valley Stream, New York restaurant.

At Corbett Restaurant Brokers, we consider it our honor to represent you in the sale of your Valley Stream, New York restaurant. And, we work harder than any other Valley Stream broker to secure the best deal for your restaurant and at the highest sale value.

Contact Corbett Restaurant Group today and let us help you sell your Valley Stream, New York restaurant for a great price.

Valley Stream Zip Codes We Support: 11536, 11580, 11581, 11582